Journals / Fiscaoeconomia / 2019 / Cilt: 3 - Sayı: 1
Determinants of Economic Growth: The Case of Turkey Under Structural Breaks
- Journal
- Fiscaoeconomia
- Pages
- 202–227
- DOI
- —
Abstract
In this study, the impacts of financial development, inflation, financial and trade openness on Turkey’s economic growth are examined over the period 1974-2017. The study, in which Fourier-Shin (FSHIN) cointegration test is performed, detects the existence of cointegrated series. According to the results of the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) methods based on the estimation of long-term coefficients, it is determined that financial development positively affects financial and trade openness as well as economic growth, whereas inflation has negative impacts.